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Currency conversion
Convert at the certified rate for the date of exportation, then apply the duty rate.
Worked example
An invoice for goods of subheading 6210.40.55 (Garments, made up of fabrics of heading 5602, 5603, 5903, 5906 or 5907: Other, general rate 7.1%) is stated as 373,182.40 pounds sterling. Using the certified rates below, what is the duty?
- Invoice amount
- GBP 373,182.40
- Certified rate, date of exportation
- 1 GBP = 1.3013 USD
- Certified rate, date of importation
- 1 GBP = 1.3171 USD
- General rate
- 7.1%
- Use the rate for the date of exportation (19 CFR 159.32, which points to 152.1(c)).
- GBP 373,182.40 x 1.3013 = $485,622.26.
- Duty = $485,622.26 x 7.1% = $34,479.18.
Answer: $34,479.18
Where it comes from: 19 CFR 159.32, 19 CFR 152.1(c), HTSUS 6210.40.55
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